a.k.a ‘be careful what you wish for”

There is a short story written by W. W. Jacobs called “The Monkey’s Paw” which centers around an enchanted paw that grants wishes but in horrifying ways. A family wishes for two hundred pounds, and receives the sum as a sympathy payment when their son is killed in a machine accident at his place of employment.

I think of this story a lot in politics — it’s a little like the law of unintended consequences (consequences which can be beneficial, negative, or harmful which arise from ignorance of the impact of your change). The monkey’s paw has individuals who well know of the possible tragic effects (the first owner wished for his own death, the next owner threw it into the fire to avoid its curse) but decide to use the object anyway.

So you’ll get the Affordable Care Act overturned. Good for you. Now you no longer have coverage for pre-existing conditions … which means you’re stuck in your job until the condition is cured because you cannot afford to pay for the treatments (hope it is curable!). You have a lifetime coverage limit of a million or two – which sounds like a lot until you talk to someone who had premature babies and incurred a quarter mill in a couple of months. Oh, and once the kids are born their lifetime limit kicks in — so your one year old miracle baby has used up a quarter of their lifetime limit. I don’t have a 25 year old in college still on my plan … hope you don’t either. Bonus, there’s no limit on how much overhead and profit the insurance company can include in their rates. I’m sure that will lower the plan cost.

And that just assumes things go back to the bad state they were in before — Republicans advocate allowing inter-state competition for insurance plans. I see that going the way of credit cards — there’s no federal usury rate. A state could ensure themselves a couple thousand jobs and a some corporate income tax money by setting their usury rate higher than any other state. And then the banks would locate there, issue cards using the local jurisdiction usury rate, and there are a load of 23% interest cards. So now states will compete to have the lowest standards for insurance – and all of the insurance companies will go there. If we’re lucky, there will be the equivalent of a credit union — a company HQ’d locally that follows YOUR state laws that you’ve got a little chance of changing (i.e. I write the state congresspeople in ND and ask them to lower the usury rate, they don’t care. I write my local representatives about Ohio’s rate … well, at least I’m a constituent).